Let’s face it, who doesn’t dream of being their own boss some day? No one to answer to or get coffee for? Sign us up! But making your way to the big corner office is tougher than you’d think. As an entrepreneur, you’ve gotta take on most of the responsibilities and risks of a business or enterprise. It’s no easy job, but it is certainly a rewarding one. So what does it take to start your own company in the 21st century, AKA the digital age?
Who? With only 18% of first time entrepreneurs succeeding in their first venture, you may think, “Who the heck would be crazy enough to found their own startup?” Well, meet 30 year-old Drew Geant, co-founder of WyzAnt, an online marketplace for finding grade-A tutors. Geant graduated from college in 2005 and remembers the days when only a few select schools were a part of Facebook, including his own alma mater, Princeton. Early on, he was exposed to the vital role the Internet plays in connecting people.
Why? When Geant quit his desk job at a high-powered investment bank, he turned to the web in hopes of finding a tutoring job. Astounded by the lack of an online marketplace or available resources for tutors, Geant created WyzAnt with one of his former classmates, Mike Weishuhn, to fill this void. He remembers, “Very few, almost none of my friends graduated college in 2005 to become entrepreneurs. Most went into finance or medical school…startups weren’t very popular yet.” In taking a huge leap of faith, Geant not only stumbled into his dream job, but also built a successful company with some of his closest friends—pretty ideal, right?
What? After lots of sweat, tears, and hard work, Geant and his buddy Weishuhn launched WyzAnt.com, a site that makes it easy for tutors to connect with local students. This company is fully committed to excellent quality and service, which is why each tutor is individually screened and tested by an employee. And the best part? It’s affordable. Whether you’re studying for the MCAT or LSAT or just want to learn how to play piano, you can log onto WyzAnt and find an expert in your price-range. Geant, an economics major, is no stranger to supply and demand. He claims, “Online companies create better economics for both sides of the market—tutors can make more money and the overall price can be less, too. We are changing the economics of the industry.”
How? What better way to promote an online company than to advertise online? A large majority of WyzAnt’s marketing is done online because these guys are well aware that’s where most consumers spend the majority of their time. Geant says they focus on Internet advertising because, “Online marketing has been extremely successful at getting our company’s name out there.” WyzAnt uses Google, Facebook, and Twitter to connect with tutors and students alike. And so far, it’s been quite effective. Over the last eight years, millions of parents and students have found tutors on WyzAnt.com—and have been incredibly pleased with their experience. And, hey, if you’re looking to make some cash in your spare time to support your ever-expanding closet, apply to be a tutor! Once a math tutor himself, Geant speaks highly of the job, saying that, “It’s a nice way to supplement your income. Most tutors have full-time jobs and use WyzAnt as a way to make an extra buck if they have extra time on their hands.” Sound like you? Take Geant’s advice and get going!